Spanish restaurant chain La Tasca and bar, restaurant and private members club company The Soho House Group, are the latest hospitality businesses to enlist CVS to carry out business rates appeals on their behalves.
“Across the UK, many restaurants and clubs are the victims of high business rates bills,” said Mark Rigby, chief executive of CVS. “With the government set on raising business rates by 5.6% in April next year, the pressure on budgets from rates is only going to get worse.”
- La Tasca, which operates 60 tapas restaurants across the UK, has instructed CVS to carry out business rates appeals for the whole portfolio of La Tasca restaurants in England.
- Soho House Group, now owned by Richard Caring, was founded in London on 1995 as a private members club and has an established reputation as one of the industry’s leading operators. CVS has been instructed to carry out rates appeals on 13 sites across London.
The news comes just one month after new research from CVS discovered that delays in processing business rate appeals are in fact costing hotels in England over £13m per year.
CVS expertise
And, as the twin forces of the economic downturn and increased charges are beginning to bite hard on many hospitality businesses, CVS, which saves its clients just over nine per cent on their rates bills, is seeing a huge increase in brands seeking advice for their appeals.
“CVS operates the largest comparable database for business rates in the UK,” added Rigby. “This gives us the unique advantage of knowing our subject and markets backwards. We can offer expertise and a results-driven service which gives our clients an attractive proposition and a great opportunity to reduce their annual overheads.”
Business rates appeals
Business rates are determined by the Valuation Office Agency (VOA). Due to the way in which the VOA calculates business rates, many companies can contest they are paying too much in rates for the property they occupy.
CVS has an expert team of business rates surveyors who are experienced at successfully lodging business rates appeals at the VOA. A successful business rates appeal can give companies a rebate on their rates bills every year for up to five years.